Pantera urges Satsuma to sell remaining $50M in Bitcoin after prior BTC sale; Satsuma says request is under review

first published 2026-04-23T10:21:46Z

Pantera Capital’s DAT Opportunity Fund (≈6.7% stake) is pressing Satsuma Technology to sell about 646 BTC (roughly $50M) and return the proceeds to shareholders. Satsuma’s shares have fallen ~99% since last June and now trade below the value of the company’s bitcoin holdings. The company is experiencing leadership turmoil after a director left in February and CEO Henry Elder departed in March. Satsuma raised £164M via a convertible note in Aug 2025 backed by major crypto investors, but subsequent bitcoin volatility (peaking above $126k then falling to ≈$60k) undermined its treasury strategy. Neither firm responded to requests for comment.

AI Analysis

Concrete, actionable facts: Pantera (≈6.7% holder) is demanding liquidation of ~646 BTC (~$50M) to return proceeds; Satsuma shares have collapsed ~99% and now trade below its BTC holdings; leadership departures and a volatile convertible-note-backed treasury strategy increase likelihood of sale. These specifics create clear near-term selling pressure on Satsuma equity and a potential short-term BTC sell flow.

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